Remuneration Factor In The Workplace

1500 Words6 Pages
In today’s working society, remuneration such as pay raise, bonuses, incentives and other monetary benefits given are motivating factors that are presented and given to employees when they meet certain kind of standards set by the companies. It has been recognized and put into effect by a lot of private companies and government organization in the world and is regarded as a main motivation factor in the working environment today. ‘It is seen widely as a platform to increase employees’ individual performance as well as company’s productivity and earnings’ (Frey, B. 2002, pg.57). This essay will argue and address how remuneration is not the only main factor that motivates the employee. It will include renowned theories that explain what kinds…show more content…
These factors are often overlooked by managers but are useful in order to motivate the employees in the company. Hertzberg (2003, p.87) stated that people are motivated instead, by interesting work, challenges and increased responsibility at work. In addition, Hertzberg (1974) motivation-hygiene theory concludes that employees satisfaction at work are made up of several different motivation methods that includes achievement at work, giving recognition for employee who did well for the company, giving interesting job scope apart from the usual one, assigning increased complex work with heavy responsibility to them, sending them to extra courses and workshops that can help them to grow and also job advancement if employees have been performing well. Furthermore, Golnaz and Clarke (2011) states that Maslow theories on hierarchy of needs help organization develop programs to motivate employees retain employee loyalty and ultimately increasing productivity and net income. The five human are physiological, safety, love/belonging, esteem and self-actualization. Once the employee’s needs are satisfied, they will feel a lot more motivated at work. Therefore, managers are able to use the Maslow hierarchy and the Herzberg theory on hygiene factors to know more about what motivates the employee apart from the monetary rewards that are…show more content…
It allows managers to know what employees need in order for them to fulfill their needs and also what they really want that will gradually help them to be more motivated. The above sources as well as case studies shows that there are indeed problems that affects the performance of the employees as well as the company if remuneration is the only motivational factor that a company decides to adopt and execute. Employees often find themselves less motivated and less productive when remuneration is the only motivating factor that the company provides. It also allows managers to know that there are different kinds of motivational factors apart from remuneration. Personal engagements, interpersonal relationship, praising employees are some of the ways that contributes to the employee’s motivational level. Managers can incorporate the factors listed above to further improve the company productivity and revenue. To summarize, it is important to note that remuneration is definitely not the only motivational method that employees are attracted to. It is also not the only real motivator is today’s
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